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Common Stocks and Uncommon Profits
320 pages, 2003
John Bogle, the pioneer in the mutual fund industry and former leader of the Vanguard Group, shares his insights on investing in mutual funds. Since the first edition of "Common Sense on Mutual Funds" was published in 1999, much has changed, and no one is more aware of this than Bogle.
Now, in this completely updated Second Edition, Bogle shares his knowledge on how to navigate through the staggering array of investment alternatives available to investors today.
Written in a straightforward, easy-to-access style, "Common Sense on Mutual Funds" examines how simplicity and common sense invariably trump costly complexity, and how a low-cost, broadly diversified portfolio is virtually assured of outperforming most Wall Street investors over long periods of time.
In 'Common Stocks and Uncommon Profits', Philip A. Fisher emphasizes the importance of doing your own research before investing. He suggests that you should dig deep into a company's financial health, its competitive position, and its potential for growth. Don't just rely on stock market trends or tips from others.
Fisher advises that it's better to own a few high-quality stocks than a large number of mediocre ones. He believes that investing in a few outstanding companies will yield better returns in the long run. So, take your time to find these 'uncommon' profits.
One of the key takeaways from 'Common Stocks and Uncommon Profits' is the importance of long-term investing. Fisher argues that the real money isn't in the buying and selling, but in the waiting. So, be patient and let your investments grow over time.
Fisher introduces the 'Scuttlebutt Method' in his book. This involves talking to customers, suppliers, and employees to get a better understanding of a company. It's a great way to find out information that isn't available in financial reports. So, don't be afraid to do some detective work!
Lastly, Fisher encourages investors to look for companies that are innovative and have strong research and development programs. These companies are more likely to grow and provide 'uncommon' profits. So, keep an eye out for businesses that are pushing the boundaries in their industry.
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I am an eager disciple of Philip Fisher's investment philosophy, as outlined in his seminal work 'Common Stocks and Uncommon Profits'. His insights have greatly influenced my own investment decisions.
Warren Buffett - Investment GuruPhilip Fisher's 'Common Stocks and Uncommon Profits' is a must-read for any serious investor. His principles have guided my own investment strategy.
Charlie Munger - Berkshire Hathaway Vice-ChairmanFisher's 'Common Stocks and Uncommon Profits' is a timeless classic. His investment philosophy has greatly influenced my own approach to investing.
Joel Greenblatt - Value InvestorMy father's book, 'Common Stocks and Uncommon Profits', remains a cornerstone of investment literature. His wisdom continues to guide investors worldwide.
Ken Fisher - Investment AnalystPhilip Fisher's 'Common Stocks and Uncommon Profits' is a masterclass in investment philosophy. His teachings have been instrumental in shaping my own investment approach.
Mohnish Pabrai - Value InvestorRecommendations
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